Fox Corp. announces $22 Billion acquisition of Roku
Fox Corp. announced a cash-and-stock transaction valued at about $22 billion to acquire streaming platform Roku, CNBC reported. According to the initial report, the combined entity would rank as the third-largest holder of U. S.
television viewership. The deal will be financed with cash and Fox stock, creating a merged company that spans both broadcast and streaming services, AP noted. The news prompted a sharp decline in Fox’s share price, with the stock falling noticeably after the announcement, CNBC added. Analysts said the market reaction reflected concerns about the scale and integration challenges of the merger.